Airbnb to conclude tax agreements with 700 cities

Airbnb to conclude tax agreements with 700 cities
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Airbnb, an American home sharing site, plans to conclude tax agreements with the authorities of up to 700 cities, where the operator is presented, Financial Times reports. The deals are to be reached until the end of 2016.

According to the company’s director general Brian Chesky, Airbnb has already concluded two hundred tax agreements that allow it to collect and remit hotel taxes to local authorities, including Paris, Nice, Chicago and Amsterdam.

The operator collects 90 percent of its revenue in these cities. The agreements are aimed to avoid tax disputes and legal arguments. In the near future, Airbnb is expected to extend its network of tax agreements to 500 more.

As a reference, Airbnb, which operates in over 190 countries, is valued at $30 billion.